HI friends! Looking the four hour chart, we can see that litecoin is breaking support, and is about to have a bearish crossover on the MACD. Look for prices to tumble down to the 38.2% retracement level (around $265) and potentially down to the rising 50 EMA (in orange.)
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
what do you suggest do we hold or sell and buy at a lower level?
Pandaiga
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Not bear at all.
MagicPoopCannon
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@Pandaiga, Thank you for commenting. Please take a look at the update chart that I posted shortly after this one. You will see that my short-term downside target at the 50 EMA was met.
Pandaiga
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@MagicPoopCannon, nice! Just suggesting that a higher low not necessarily looking too bearish to me.
Pandaiga
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@Pandaiga, maybe we'll see abcd to 310 next, 265 was the right level for bounce on my chart. I'm noob though, just taking shot in the dark :D